SALE OF LAND - Agreement of purchase and sale - Offer - Specification of time and manner of acceptance - Validity

Appeal by the plaintiff purchasers from dismissal of their action against the defendant vendors seeking specific performance of an agreement of purchase and sale. In August 2013, the purchasers signed a draft agreement of purchase and sale and provided a deposit cheque to the vendors' real estate agent. The agent advised that certified funds were required. The parties finalized the agreement of purchase and sale, which required payment of the deposit within 24 hours. The agreement included a “time shall be of the essence” clause. The...